The Latest on our Financial Bailout

OK...so, $250B of the $700B that Congress approved will be going to nine of the country's largest banks (i.e., Citibank, Morgan Stanley, Lehman Bros, Wells Fargo et.al).

Here's the $64 question: will Barney Frank insist that some of the remaining $700B be provided to Fannie Mae and Freddie Mac?

The follow-on question is: should anyone in Congress have any business trying to straight-arm Treasury (Neel Kashkari and Henry Paulson) or the Fed (Ben Bernanke)?

Like it or not, Congress is as culpable as Wall Street in this mess because of politics, some bi-partisan...some not.

We need to rely on advice from experts who have no personal or financial interest on the decisions to be made over the next year or so. Mark my words, if politicians try to exert political pressure to get "sweet-heart deals" for their lobbyists and constituents, we're all in BIG trouble; especially if they get away with it.